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PBS
Feb 7, 2013 9:00pm PST
problem is a lack of effort. >> the justice department failed. they have not done what needed to be done. they didn't ever try to bring together one coherent narrative, laying out the entirety of the story, against one of the major plays and demand sanctions that are meaningful. that to me is what has been fundamentally lacking. >> narrator: the story of how the big banks amassed enormous fortunes packaging home loans into securities and selling them to investors all over the world began, of course, on the ground with mortgage originators. >> what my econ i prof taught us was business goes in cycles. my name is michael winston. i worked for countrywide financial corporation from 2005 till 2008. they said their goal was world-class. goldman sachs on the pacific. and they wanted me to realize their vision. see now if you can reach up, with both fists... >> narrator: michael winston once lived inside the bubble at mortgage originator countrywide. at first, winston was impressed by ceo angelo mozilo and how he had turned countrywide into america's number one mortgage company. >> how ya doin'
PBS
Jan 31, 2013 6:30pm PST
brewing. the justice department is suing to block the $20 billion merger between anheuser busch-inbev and mexican brewer modelo. using company documents to bolster their case, justice department lawyers says the deal will lead to higher prices for popular beers like budweiser and corona. anheuser-busch inbev says it is still confident the deal will go through. as darren gersh reports, the fight could be a sign more mergers will face a tougher time in washington. >> reporter: the justice department is not quite ready for a two-pack of brewers to control almost half the american beer market. in a statement announcing a lawsuit to block anheuser-bush inbev's $20 billion deal for mexican brewer modelo, assistant attorney general bill baer says >> if abi fully owned and controlled modelo, a.b.i. would be able to increase beer prices to american consumers. this lawsuit seeks to prevent a.b.i. from eliminating modelo as an important competitive force in the beer industry. anheuser-busch was not deterred, saying: >> we remain confident in our position, and we intend to vigorously contest the
CBS
Jan 31, 2013 7:00pm EST
brewing. the justice department is suing to block the $20 billion merger between anheuser busch-inbev and mexican brewer modelo. using company documents to bolster their case, justice department lawyers says the deal will lead to higher prices for popular beers like budweiser and corona. anheuser-busch inbev says it is still confident the deal will go through. as darren gersh reports, the fight could be a sign more mergers will face a tougher time in washington. >> reporter: the justice department is not quite ready for a two-pack of brewers to control almost half the american beer market. in a statement announcing a lawsuit to block anheuser-bush inbev's $20 billion deal for mexican brewer modelo, assistant attorney general bill baer says >> if abi fully owned and controlled modelo, a.b.i. would be able to increase beer prices to american consumers. this lawsuit seeks to prevent a.b.i. from eliminating modelo as an important competitive force in the beer industry. anheuser-busch was not deterred, saying: >> we remain confident in our position, and we intend to vigorously contest the
CBS
Feb 6, 2013 12:00pm EST
. cbs news has confirmed that the authenticity of a justice department memo laying out when the president can authorize such attacks. susan mcginnis has more. >> reporter: the white house is vigorously defending a justice department memo which says the administration can use drones to protect and kill american citizens working with citizens. >> these strikes are legal. they are ethical and they are wise. >> reporter: the memo originally obtained by nbc news says killing a u.s. citizen who is a senior operational leader in al qaeda or an associated force is lawful under three conditions. the suspect is engaged in planning operations to kill americans, even if no specific attack is imminent. it's not possible to capture the suspect before the attack, and the operation follows applicable laws and war principles. but there is concern among some on capitol hill that the policy removes the right of american terror suspects to a trial by jury. and on tuesday the white house press corps pushed obama officials on the issue. >> this is giving legal justification for killing american citiz
ABC
Feb 2, 2013 11:00pm EST
the justice department to investigate. and no matter how you feel -- on a freezing february night family, friends, and community leaders -- there's no reason to take a lie. they gathered to honor the 's life. it was one year ago that deoni was fatally stabbed in the head at this metro bus stop. the witness accounts and using this surveillance video, police andked down the suspect under second-degree murder charges. >> he was stabbed. he appeared drunk or high. we think that he saw that he and exhibitedred hate. >> they want the justice department to investigate and take over the case. intent is difficult to prove in any murder prosecution. >> there is an assistant to it a justice department policy advisor. she says defining a hate crime is not easy. it really depends on the jurisdiction. . >> there are many questions. i think all of the facts need and thet on the table decision reached as to why or this is or not a hate crime. that u.s. attorney office has declined to comment. prosecutors will have to prove killed jonesry specifically because he was transgendered. the government f
CBS
Feb 22, 2013 6:30pm EST
justice department suing the disgraced cyclist for fraud. a judge decides whether oscar pistorius can go free on bail. emma hurd was in the courtroom with the olympian charged with murder. the washington budget crisis threatens essential government services. >> it would be an economic disaster and there would be no winners. >> pelley: ben tracy in los angeles on whether food safety will be compromised. and steve hartman "on the road" with the incredible act of kindness that brought a mother to tears. >> i think i'll cry about it for the rest of my life. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. many of lance armstrong's victories were painted red, white, and blue. his team sponsor was the u.s. postal service and, in the late 1990s, the agency could hardly believe its luck, that it had put its money on a man who became arguably the greatest endurance athlete of all time. well, today color the pofl service embarrassed. the u.s. justice department announced this afternoon that it will join a civil lawsuit that claims armstrong def
PBS
Feb 4, 2013 4:30pm PST
poor's said the justice department's lawsuit had no legal or factual merit. saying: "it would disregard the central facts that s&p reviewed the same subprime mortgage data as the rest of the market-- including u.s. government officials who in 2007 publicly stated that problems in the subprime market appeared to be contained." >> reporter: s&p goes on to argue that the securities at issue in the justice department's case were reviewed by another ratings agen and received the same rating. s&p says it also began downgrading many mortgage securities in 2006, warning that conditions in the housing market were deteriorating. but critics say what matters is what s&p claimed at the time it stamped securities triple a. >> the ratings agencies claim that they have unique analytic abilities and very sophisticated models that enable them to determine the credit worthiness of a bond, a derivative, a security. >> rorter: s&p pointout cou rulings he diissed what it called challenges to a credit rating made with 20/20 hindsight. if the justice department does sue, standard and poor's says it
WETA
Feb 4, 2013 6:30pm EST
crisis come back to haunt standard and poor's. the justice department is close to filing a lawsuit against the agency for wrongdoing in its ratings before the financial crisis. >> tom: i'm tom hudson. weakness in technology shares helps derail a five-week runnup on wall street, we look at stocks and the individual investor. >> susie: and michael dell could be taking the computer company that bears his name private, as soon as this week. a look at what going private means for investors. >> tom: that and more tonight on "n.b.r."! >> susie: entirely without legal merit, that's what standard and poor's is calling a potential lawsuit by the department of justice, for s&p's mortgage bond ratings ahead of the financial crisis. these charges come five years after the financial crisis and would be the first alleging illegal behavior by a major ratings agency. as darrensh ger reports g, s&p is fighting back. >> reporter: what took so long? that's the reaction from critics who have long argued standard and poor's gave a stamp of approval to flawed mortgage securities that helped bring on the
CBS
Feb 4, 2013 7:00pm EST
crisis come back to haunt standard and poor's. the justice department is close to filing a lawsuit against the agency for wrongdoing in its ratings before the financial crisis. >> tom: i'm tom hudson. weakness in technology shares helps derail a five-week runnup on wall street, we look at stocks and the individual investor. >> susie: and michael dell could be taking the computer company that bears his name private, as soon as this week. a look at what going private means for investors. >> tom: that and more tonight on "n.b.r."! >> susie: entirely without legal merit, that's what standard and poor's is calling a potential lawsuit by the department of justice, for s&p's mortgage bond ratings ahead of the financial crisis. these charges come five years after the financial crisis and would be the first alleging illegal behavior by a major ratings agency. as darren gersh reports s&p is fighting back. >> reporter: what took so long? that's the reaction from critics who have long argued standard and poor's gave a stamp of approval to flawed mortgage securities that helped bring on the fin
NBC
Feb 5, 2013 5:30pm PST
. nbc news has obtained this confidential 16-page justice department memo that concludes lethal strikes against u.s. citizens who are operational leaders of al qaeda are a lawful act of national self-defense. >> we only take these kinds of actions when there's an imminent threat, when capture is not feasible, and when we are confident that we're doing so in a way that's consistent with federal and international law. >> reporter: but the memo appears to allow greater leeway than the administration has publicly acknowledged. it says an imminent threat does not require the united states to have clear evidence that a specific attack on u.s. persons and interests will take place in the immediate future. the aclu is challenging obama's drone policy and is suing the u.s. government over awlaki's death on behalf of his family. >> it is a chilling document. it's, you know, it sets out the government's claimed authority to carry out the targeted killing of american citizens. but the limits are really vague and elastic, and it's very easy to see how they could be manipulated. >> reporter: nbc news
CBS
Feb 6, 2013 4:00am EST
july. >>> the justice department says they've broken up one of the biggest credit it card fraud rings of all time. 18 people were arrested tuesday accused of creating fake i.d.s to steal over $200 million. the ring operated in 28 states and several countries where the money was used to fund lashish lifestyles. >> a man who found a rare baseball card at a yard sale in maine is about to become very rich. there are only two cards like it in the world. the card is hitting the auction block today and is expected to reach at least $100,000. >>> and mvp joe flacco got the keys to a corvette with a huge tax bill. the car is worth about $60,000. if he decides to keep it he'll have to pay about $25,000 in taxes. don't worry. he can certainly afford it. he's a free agent and can expect to make about $20 million. what a problem to have. anne-marie? >> thank you, ashley. >>> there's a growing debate in washington over the controversial issue of drone aircraft, specifically deadly attacks against americans. tomorrow it will likely be an issue with john brennan. a new memo gives the president wide l
KRON
Feb 21, 2013 11:00pm PST
department of justice could get involved. >>> we're profiling the bay area's most wanted suspects and tonight detectives in the south bay are searching for a bank robber. the same suspect is accused of robbing at least five south bay banks just in the past month or so. the most recent hold up a santa clara wells fargo on homestead road just two days ago. the suspect also robbing banks in san jose, one in saratoga and two banks in cupertino. we got our hands on surveillance video of the suspect. a muscular white man, clean shaven, between 5'6" and 6'tall. he also appears to be wearing a raiders hat in these images. detectives say that he will hand a note over to tellers and demand money. i'm grant lotus, kron4 news. >>> the 49er general manager raves and raves about randy moss. sounds like they're going to get rid of him. also we'll get some golf with tiger. and a special memorial for jerry r on in this newscast. >>> we'll tell you what you can expect in your weather coming up in a few minutes >>> brought to you by acura, advance. you can't move the tv there. yuh-huh. we have a wir
CBS
Feb 22, 2013 7:00pm EST
endurance athlete of all time. well, today color the pofl service embarrassed. the u.s. justice department announced this afternoon that it will join a civil lawsuit that claims armstrong defrauded the federal government. here's bob orr. >> reporter: the lawsuit as lance armstrong broke his sponsorship contract with the u.s. postal service by using performance-enhancing drugs while winning multiple tour de france titles. the postal service paid at least $31 million to sponsor armstrong's cycling team and now the justice department wants that money back and could seek total damages approaching $100 million. the lawsuit, first filed by armstrong's former teammate floyd landis in 2010, claims the team knowingly caused the united states postal service agreements to be violated by regularly employing banned substances and methods to enhance their performance. that charge brought strong denials from armstrong at the time. >> he's got no proof. it's his word versus ours. >> reporter: but in 2011, another teammate, tyler hamilon, told "60 minutes" armstrong did used banned substances, including the blood do
KICU
Feb 6, 2013 4:00am PST
theirs. but the justice department alleges that s&p's had conflicts of interest. "i think the government has a whistle-blower. it has to have someone in the wings willing to come forward to say that he told his superiors that he was going to commit fraud and they went along with it. without that, i don't think this lawsuit succeeds." there may be one whistle-blower or more. in announcing the lawsuit, attorney general holder says analysts within s&p raised concerns but were ignored, while losses investigators say they've traced to s&p total more than $5 billion. s&p says 20/20 hindsight is not basis to take legal action against the good-faith opinion of professionals. settlement talks reportedly broke down after the government sought more than a billion dollars to prevent it from pursuing its case in court. ceos from goldman sachs, motorola, yahoo and other u.s. corporations are voicing their opinons about immigration to president obama. the president welcomed the business leaders to the white house tuesday. he is pushing his "pathway to citizenship" plan for illegal immigrants
KICU
Feb 20, 2013 4:00am PST
white collar watchdogs. how the justice department plans to put robbers from wall street behind bars. in today's cover story, with the sequester cuts to begin just 10 days from now, what's happening behind the scenes on capitol hill. and.... to the moon! hear one trader's ambitious prediction for the s&p 500. plus, traffic ticket tips: how to keep your insurance rates from surging. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's wednesday, february 20th. i'm angela miles. in today's first look: the short trading week is off to a postive start. the dow made a push above 14,000 and the s&p 500, which is not at a 5 year high. gold had a major sell-off of 32 dollars as oil slipped slightly. in earnings after the close, dell beat the street despite a drop in profits and sales. and herbalife profits, revenues and the company's full-year forecast are all up. perhaps it's all the news coverage giving herbalife a lift. and macy's goes to to court today hoping to persuade a judge to permanently block mar
PBS
Feb 8, 2013 9:35pm EST
, did the folks who issue credit ratings make the mortgage crisis worse? the justice department says yes. >> we believe that s&p played a significant role in helping to bring our economy to the brink of collapse. gwen: and on politics, republicans and democrats map out the future. >> it's important not to read too much into any particular political victory, because this country is big, it is diverse, it is contentious, and we don't have a monopoly on wisdom. >> to uphold this legacy of those who have come before us, washington will need to make some choices. and in a divided government, these choices are often tough. gwen: covering the week, carrie johnson of nph, pete williams of nbc news, alexis simendinger of real clear politics, and beth reinhard of "national journal." >> award winning reporting and analysis covering history as it happens. live from our nation's capital, this is "washington week with gwen ifill." corporate funding for "washington week" is provided by -- >> we know why we're here. to chart a greener path in the air and in our factories. >> to find cleaner more eff
NBC
Feb 22, 2013 5:30pm PST
trouble tonight. the justice department has joined one of his former racing teammates, suing him for using performance enhancing drugs during the tour de france. nbc news justice correspondent pete williams in our washington newsroom with more on this story tonight. pete, good evening. >> reporter: brian, the justice department claims lance armstrong was cheating the federal government when he raced in the tour de france on a team sponsored by the u.s. postal service. the government today joined a lawsuit that had been filed earlier by one of his teammates, floyd landis. it says armstrong violated a strict ban on illegal drugs, all the while claiming he never used them. the government says armstrong and his team owners cheated the postal service out of at least $30 million that it paid to sponsor his racing team. but armstrong's lawyers say tonight the postal service's own study show it benefited tremendously from its sponsorship, benefits totalling more than $100 million. the justice department says lance armstrong's confessional television interview will be a factor as this goes forward,
FOX Business
Feb 10, 2013 8:30am EST
back to cavuto. >> you mess with the bull you get the horns. the justice department going off credit rating agency s & p accusing them misleading in the financial crisis. and the same agency downgradi downgrading us and sending the markets in a tailspin. and wondering why other agencies aren't charged. a little peculiar. >> and as someone who covers the financial crisis i have no sympathy for standard & poor's, these were some of the lucrative deals and complex housing bonds and vying for the bonds and they were involved in the deals and they did stupid things. and that said, i will tell you that every single ratings you see the same exact thing and basically inflated those ratings they could be put on the deal and if they go after standard & poors, they have to go after the hours and the only reason they're not. this is pay back time. >> pay back time for the downgrade, the u.s. debt. >> no. >> make the administration look bad. >> i don't buy it. they're going to start with one, start with s & p and the case go goes-- moody's the justice department is probing moody's among other reg
ABC
Feb 6, 2013 4:00am PST
. >> reporter: a newly disclosed justice department document say american citizens tied to al qaeda can be killed, if, quote, an informed high-level official believes the target poses an imminent threat. but the document says it, quote, does not require the government to have clear evidence. case in point, anwar al awlaki, an american citizen and top al qaeda leader, linked to several terror attacks. he was killed in a 2011 drone strike. human rights advocates say the justice department memo goes way too far. and -- >> justifies, essentially, a claim that the executive branch can be judge, jury and executioner. >> reporter: as soon as he became president, barack obama stopped cia tactics like waterboarding, that he considered torture. but this justifies outright killing of a suspected terrorist. how does dropping an bomb on an american citizen without any judicial review, any trial, not raise the very human rights questions or more human rights questions than something like waterboarding? >> the president understands the gravity of these issues. that's why he's committed to taking very ser
CBS
Feb 6, 2013 4:00am PST
declassified justice department memo gives the president wide latitude in ordering the strikes and overnight "the new york times" found that some of the strikes originated at a base in saudi arabia. susan mcginnis is in washington. susan, good morning. >> good morning, anne-marie. yeah, this is coming from a newly declassified document that seems to provide legal rationale for the government to target u.s. abroad suspected of being terrorists without due process. this is an out growth of legislation from soon after 9/11 but now there's an outcry from the u.s. capitol hill and elsewhere that the license to kill goes too far. the white house is vigorously defending a justice department memo which says the administration can use drones to attack and kill american citizens working with terrorists. >> these strikes are legal. they're ethical. and they are wise. >> the memo originally obtained by nbc news says killing a u.s. citizen who is a senior operational leader in al qaeda or an associated force is law ulf under three conditions. the suspect is to kill americans. it's not possible
CBS
Feb 10, 2013 6:30am EST
authority. a confidential memo detailing the justice department's legal reasoning for killing american citizens with drones was released this week. >> any american who joins al- qaida will know full well that they have joined an organization that is at war with the united states and hat killed thousands upon thousands of individuals, many, many of them who are americans. so i think any american who did that should know well that they, in fact, are part of an enemy against us and that united states will do everything possible to destroy that enemy to save american lives. >> what's the troubling aspect of the justice department's reasoning concerning the use of drones against u.s. citizens? >> i'll tell you, john, the troubling aspect is this. look, if an individual joins al- qaida, and they're planning a bomb or involved in an attack on americans, look, he's fair game, he's an enemy combatant. but what the justice department said is look, high-ranking u.s. officials can pick out ranking operatives of al-qaida who represent an imminent danger, and we killed one guy in yemen, this al-waki
NBC
Feb 5, 2013 4:00am EST
as much as 17 cents in the past week alone. plus, a confidential justice department says the government can order the killing of american citizens. wait until we tell you why. >>> and new details on the murder of navy s.e.a.l. chris crime. former president george h.b. bush out and about. and governor chris christie gets back at all those fat jokes made at his expense. "early today" starts right now. >> announcer: this is "early today" for tuesday, february 5th, 2013. >>> and a very good morning to you, i'm veronica de la cruz. before you head out, you might want to pad your wallet, gas prices up again. $3.52 that pats the highest ever for february. 17 cents from just last week, a spike of 22 cents since early joon. drivers in states like new york and california are feeling the pinch more than others. prices there are approaching $4 a gallon and that is making for extra pain at the pump. >> these higher gas prices generally affect the way i budget my money, where i choose to live and how i choose to spend my early time. >> more about the distance i'm driving. >>> a weak dollar
CBS
Feb 22, 2013 5:00pm PST
on his tail. bob orr on the justice department suing the disgraced cyclist for fraud. a judge decides whether oscar pistorius can go free on bail. emma hurd was in the courtroom with the olympian charged with murder. the washington budget crisis murder. the washington budget crisis threatens essential government services. >> it would be an economic disaster and there would be no winners. >> pelley: ben tracy in los angeles and steve hartman "on the road" with the incredible act of kindness that brought a mother to tears. >> i think i'll cry about it for the rest of my life. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. many of lance armstrong's victories were painted red white, and blue. his team sponsor was the u.s. postal service and, in the late 1990s, the agency could hardly believe its luck, that it had put its mo put its became arguably the greatest endurance athlete of all time. well, today color the postal service embarrassed. the u.s. justice department announced this afternoon that it will join a civil lawsuit
WHUT
Feb 5, 2013 7:30am EST
>>> welcome to nhk world "newsline." japanese government officials say cruise on a chinese navy frigget trained their weapons radar on a japan self-defense destroyer. they say it happened in the island they both claim. first time they confirm china has done this to an sdf ship. gonodera just spoke about it. >> translator: using this so-called radar, weapons radar, is an extraordinary act. the japanese government believes that the situation could have gotten extremely dangerous. >> >> he says they laj aid protest with chi noose ministry. he revealed it happened on january 30th in international waters. he says the vessels were about three kilometers apart. he says defense ministry analysts are investigating a separate incident from earlier in january. they suspect a chinese navy frigget trained its weapons on a self-defense helicopter. japan and china have wenlocked in a dispute over the senkaku islands. china and taiwan claim the territory. the japanese government nationalized the islands last september. chinese surveillance ships have been navigating in and around or out of japanese waters near the territory ever since. the area around the islands is believed to be rich in natural resources. the disagreement has affected diplomatic relations and trade. >>> security analysts are trying to figure out the consequences of what happened out at sea. a former navy capital tin with japan's self-defense force and joins us here in our studio. so, how serious do you consider this incident? >> yes, it is serious act because using radar, which can control the weapon, means they will will attack the ships. usually the naval ships have two types of radars. >> okay. >> generally one is for navigation, or searching target. another is the fd radar used for controlling the weapons. this time the chinese ship used this radar pointed to japanese ships on the helicopter. >> fc radar means fire-controlled radar? >> yes. >> why would chews on a chinese frigget train their fc radar on a destroyer? >> i think the -- there are two possible scenarios. >> okay. one is the chinese side just wanted to provoke japanese ships. another is the chinese ship proceed japanese action is dangerous so they want to warn japanese ship, wanted to stop the japanese ship's action. but in both scenarios -- this is the problem, i think, because if chinese side just wanted to provoke japanese, chinese side didn't recognize using fc radar was not serious but japanese side feel very serious, big deal. another scenario, the japanese side recognize they were keeping the distance, safe distance. >> yes. >> but if chinese side feel that was danger, so they wanted to warn there was perception gap, too. i think perception gap is the most important thing in this issue. >> what needs to be done to diffuse this situation? >> i think the -- both japanese and china has to have activity to understand each other. or else similar kind of issues will occur even in future. >> what kind of activity are you talking about? joint naval exercises or -- >> i think difficult to conduct right now, but both sides have to keep discussing and also personal exchange, and have to discuss with each other face to face. they have to see the operation on the ships so they can understand the perception of each other. >> a lot more interaction needed here. thank you for your time. bonji ohara, former captain with japan's maritime self-defense force. >>> south korea authorities are trying to pin down details about north korea's planned income testimony. president young backe says they may have simultaneous test at two or more location. government officials have defected a lot of activity at poongke-ri test facility. they say something that looks like a cover has appeared over the entrance of a tunnel on the western side. lee spoke about the plans with the "chosun ilbo" newspaper and spoke about a statement that the country will carry out a high-level nuclear test. lee said the north appears to be trying to develop smaller nuclear weapons. he warned the weapons could pose a threat if they found their way outside north korea or if they were mounted on intercontinental ballistic missiles. lee spoke about the united states, an ally of the south. he said u.s. policy toward north korea would undergo a fundamental shift if pyongyang proceeded. >>> it's been a little more than a month since abe became prime minister and central bank head is already calling it quits. >> he was scheduled to do that, gene, but it came as a bit of a surprise today because he's stepping down earlier than planned. bank of japan masaaki shirakawa is stepping down earlier than expected and he told reporters he informed the prime minister of his decision to resign. his term was scheduled to end on september 8th. he will be resigning with two deputy governors. >> translator: i conveyed my intention to resign to the prime minister. i told him, i want to step down early because the two boj deputy governors are leaving office on march 19th. our simultaneous resignations will open the way for the central bank to start with a clean slate on the same day. >> shirakawa became governor in 2008. he's been working to beat deflation with a string of monetary easing measures. in response to abe's demand, the boj issued a joint statement with the government last month, setting an inflation target of 2%. now, the news of the boj governors' resignation has prompted investors to sell the yen. the markets are betting a new governor will take more easing measures that would accelerate the yen's decline. in fact, we're seeing quite a jump right now for the dollar. 0.6%, in fact, in london trading. right now at 92.95. the euro also gaining ground against the yen. we're seeing that at 125.90. now, earlier in the day the euro had slipped to the lower 124 yen level on investor worries about possible political shakeups in spain as well as italy. let's take a look at other urine yan stocks now. we're seeing trading is mostly higher at this hour despite concerns about the eurozone debt situation. the investors are hunting for bargains after the losses that were experienced on monday. we have the ftse 100 up by 0.5%. gains for the frankfurt market of just over 0.1%. and paris' cac 40 up 0.9%. the picture in asia today, almost a sea of red with the exception of shanghai there. japan's nicky snapping a five-day streak. they hope authorities will take steps to stimulate the economy. >>> looks like the yen's decline is proving to be quite a boone for toyota motor. the carmaker is predicting it will post its first operating profit in five years, thanks to the currency's weakness. toyota managers have revised their profit estimate upward for the fiscal year ending in march. they say they're expecting now a profit of about $1.6 billion. that's quite a change from just a few months ago. in november they were looking for a loss of more than $200 million. managers say the weakening of the yen since mid-november will improve export margins and push up profit by more than $1.5 billion. they also note that cost-cutting efforts at factories have also been a bit of a help. managers have also raised the profit outlook for the toyota group by 9.5% in yen terms to more than $12 billion. that does include revenues from overseas operations. they're now more confident that the company will be able to maintain its domestic production target of 3 million vehicles. that's if the yen is able to stay at current levels. >>> the u.s. justice department is expected to file civil charges against standard & poor's over its assessment of some mortgage-backed securities. s&p officials announced the justice department informed them about the lawsuit. the case will be focused on the agency's ratings of subprime and other mortgage-backed securities in 2007. that was, of course, leading up to the financial crisis. s&p officials say they deeply regret failing to fully anticipate the deteriorating market conditions at the time. but they do deny any wrongdoing. this is the first time the u.s. government will file a suit against a leading ratings agency over alleged illegal behavior tied to the financial crisis. the justice department says s&p ratings were motivated by commercial considerations and not issued in good faith. >>> japan has agreed to provide india's steel industry with energy saving technology. output is expected to jump five-fold by 2050 but energy conservation is a pressing issue because the industry is heavily dependent on fuel oil as well as electric power. the agreement came after a meeting in tokyo. it was tended by government and industry officials from the two countries. the technological know-how to be provided to india provides, among other things, how to convert heat and gas from steel mills into electric power. >> we hope that in the time to come we'll be second largest steel producer of the world. with this expansion, capacity is in mind, we do require better technologies, efficient technologies. we are assured with the discretion with exports, we will be able to find the right technologies for india. >> under the accord, japan will also send experts to india to help build energy-saving facilities. >>> that is going to wrap it up for biz tonight. let's get you a check of the markets. >>> residents of beijing have woken up for much of the past month under a dome of smog. they've looked out their windows to a haze of pollution. and residents of other cities are seeing the same thing. officials with the ministry of environmental protection say nearly half the population has been affected by serious air pollution. the officials said smog containing fine particulate matter has blanketed a quarter of china's land. they said about 600 million people are affected. the air in about 70% of chinese cities doesn't meet environmental standards. each year 15 million more cars take to the road. government officials say they want to reduce the density of fine particulate matter in the atmosphere by 5% by 2015. chinese media report a government-affiliated think tank says air pollution in beijing exceeded national standards for 27 days in january. not everyone in china is able to air their opinions. protesters have been demanding freedom of speech. a dispute between government officials and journalists triggered the rallies. protesters say censors told editors of the newspaper to rewrite a new year's editorial. authorities reportedly promised to back away from kren sureship but protesters say they're not satisfied. here's the latest. >> reporter: the communist party wields heavy hand over china's media. what made journalist protest? we interviewed the man with inside information. he used to be an editor of nan cho mo and has access to the publish. he said the atmosphere in the editorial department changed after the guangdong party. >> journalists have to submit all stories to the propaganda department. the journalists are told what to do and what not to do. all reports are subject to censorship. when i drop into the editorial department, many people confide their grievances to me. >> reporter: protesters for four days in front of the offices. many were young. openly they criticize government control over the news as well as the political system. among them was 24-year-old li huizhou. li comes from a farming village about two hours drive from guangzhou. he became interested in western-style democracy while attending the university. often he accesses foreign media websites. li took part in protests, hoping for reform of china's media. >> translator: free exchange of opinions doesn't mean bringing down a particular person. i want to make china an equal society where people are free to have diverse opinions. >> reporter: reports say the chinese authorities promise to stop the censorship to rein in the protests. on january 18th, before lunar new year's day, journalists of nanfang zhoumo got together. they looked back on the past year. during those 12 months authorities made sure more than 1,000 articles never made it to print. awards for good reporting were handed out. but on the issues of censorship the highest-ranked editors were silent. now nanfang zhoumo's reporters cannot comment about their job on websites or in public places. >> translator: everybody feels a lot of pressure. it will be settled shortly, but i can't say anything now. >> reporter: despite the restrictions, a reporter agreed to be interviewed incognito. >> translator: most reporters are dissatisfied with the outcome, but as long as we work with the chinese media, we have to accept restrictions. some journalists in the chinese media may believe in complete freedom of speech with no government interference. but those people would lose their jobs. that is the reality. >> reporter: more chinese citizens, including young people in particular, are having doubts about their country's government-controlled media. there's a growing demand for more freedom in journalism. under the new leadership by xi jinping the chinese authorities would see more clashes with media. shun ishibe, nhk world, guangzhou. >>> executives at taiwanese companies are finding success in the small things. they're establishing a growing presence, making products for components for other firms, something called contract manufacturing. they've learned they've got to be fast and flexible. nhk has more from taipei. >> reporter: the technological industry is one of the main industries for taiwan companies. companies focus on speed. this manufacturer is trying to develop a mirror-less camera. it's cutting-edge digit cal camera, originally created in japan. now taiwanese firms have gained the know-how to design and make those products on consignment. makers must have facilities that allows mass production. they also need to be able to make the market needs of their clients. >> translator: the top priority is speed. speed can help develop technology and it can also help us take the lead in the market. >> reporter: to speed up work, this company delegates more authority to project managers. >> translator: we're already negotiating inspection methods with the japanese firm. a decision will be made soon. >> reporter: the maker plans to begin full-fledged production in the first half of this year. >> translator: we'll shorten the time to get the parts we need by making them inside our group. this should enable us to manufacture products two to four months faster than japanese makers. >> reporter: authorities that support such firms are also placing a priority on speed. this research institute acquired many partners that connects technology to new products. they support the researchers to set up enterprises on their own. so far, more than 70 researchers of the institute are running start-ups. and there's new developed crystal panel in only three years. he says a vivid images can compete with those made by older diode screens. the firm will begin mass production by the end of this year. >> translator: taiwan is currently full of vitality and new ideas. we hope to provide more useful products to consumers. >> reporter: as the academy, taiwanese companies cannot fully escape the negative impact, but the efforts are allowing them to become more prominent than ever. nhk world, taipei. >>> city officials in tokyo and surrounding areas are rushing to put on tire chains and preparing snow-thawing agents. rachel ferguson has the details. >> oh, yes, we're expecting a dose of winter here in tokyo but also much of japan as the new system comes across from eastern china. this is it here. it will be moving from north to south across much of the country, dropping about 15 to 20 centimeters in some places, more in the mountains, but even 10 centimeters is possible in the capital. it doesn't sound like a lot, but we're not really equipped for this kind of significant snow. when it happens, the road surfaces get very sliply and it could even be hard for cars to get up very slight gradients. it does cause quite a troublesome picture to appear in the capital city, so we'll be seeing that. thursday we'll look a lot clearer, but you will be seeing a big drop in the temperatures. also into thursday and friday, i should mention yet another system coming across, brewing over the sea of japan. it will be heading up to northern japan, hokkaido a. let's take a look at these next three days in some key cities in the east of asia. 4 degrees in tokyo but recovering quite well toward the end of the work week. seoul dropping down to minus 8 for thursday, minus 8 6 on friday. as for beijing, dropping down to subzero low on thursday. and the same goes for you on friday, too. so, very much time to bundle up against that bitter cold. as we head into the americas, we'll see significant snow for the cass kasd, maybe about 30 centimeters. a system offshore sending those fronts in. toward the great lakes you'll see 5 centimeters of snow. a swift-moving system. shouldn't cause too much damage there. down toward the south, widespread showers monday along the gulf coast. that will clear up for you. then towards the end of the week, you'll have more rain and possibly some severe thunderstorms to deal with, too. eastern and central portions up towards the north are looking bitterly cold. minus 17 in winnipeg. minus 3 in toronto. with 2 in new york city. minus 1 in chicago. not bad in vancouver at 7. 9 degrees in seattle. getting up to 15 in denver. and then we're in the mid-20s in houston as well as mexico city and also in miami. heading to europe, we've been talking about that large system dominating much of the continent. we're still looking at the same system. you can see very well rotating here in the clouds. let's pull that cloud away, see what's underneath. those gusts have intensified. wind gusts reaching up to about 120 kilometers an hour. the bulk of this precipitation is going to be snow. along the front you'll even find thunderstorms, so thunder in with that snow. as the system descends across the british isles and down toward the southeast here, it will be bringing that snow to italy as well as the balkans peninsula. you'll see return to cooler temperatures and snow as well. you put two and two together already, the snow plus sthoes strong gusts means visibility will really be impaired. dangerous travel. i would definitely expect to see some delays if not cancellations at train stations and also at the airports. bringing your temperatures now on tuesday, cooling down to 4 degrees in london. 6, meanwhile, in berlin. minus 3 in moscow, down towards the south. we're looking at mid to low teens for athens, rome, madrid as well as lisbon. here's your extended forecast. >>> once again, japanese government officials say crews on a chinese naval frigget trained their weapons radar on a japan self-defense force destroyer. they say it happened in the east china sea near islands both countries claim and that it's the first time they've confirmed china has done this to an sdf chip. defense minister onoders just spoke about the incident. >> translator: using this ravrd, weapons radar, is an extraordinary act. the japanese government believes the situation could have gotten extremely dangerous. >> onerdo says japanese foreign minister has launched a protest with chinese authorities. he revealed the incident happened on january 30th in international waters. he said the vessels were about three kilometers apart. he says defense ministry analysts are investigating a separate incident from earlier in january. they suspect a chinese navy frigget trained weapons radar on self-defense force helicopter. japan and china have been locked in a dispute over senkaku islands. chinese control the territory, japan and taiwan claim it. chinese surveillance ships have been navigating in and out of japanese waters near the territory ever since. the area around the islands is believed to be rich in natural resources. the disagreement has affected diplomatic relations and trade. >>> we'll be back in 30 minutes with more news. i'm gene otani in tokyo. thanks very much for joining us. have a great day wherever you are.
FOX News
Feb 9, 2013 11:30am PST
>> predictions, john, you're up. >> northeast is digging out and toro snow blowers digging in. up 25% by the springtime. >> brenda: all right. john layfield, what do you think of that? >> i'm a bull on john, bear on the stock. >> brenda: okay and your prediction, john layfield? >> apple hit it's 25 millionth download for itunes and i think probably had a lot to do with it. einhorn pressuring the company has a lot to do with the stock. >> brenda: and john. >> i'm usually with the einhorns the luster off tim cook, i'm a bear. >> brenda: jonas, your prediction? >> a lot of fallout for the blackout at the super bowl. but destiny child and columbia neighbor. >> brenda: gary b, bull or bear. >> it's up a million percent at least wait for a pullback. >> brenda: your prediction. >> i like hasbro, they own monopoly, got rid of the awful iron. >> brenda: jonas, bull or bear. >> not for me. >> brenda: forget boardwalk and park place, where the real location is, coming up next cavuto on business and the rest of the business block. >> from the super bowl to the super bust. i'm charles payne in for neil cavuto. ravens may be champs, but the city looking like chumps. financial ruin and the highest taxes in the the state take a toll and should the democrats in washington take heed because just this week, a group of them unveiled a 300 billion dollar tax hike they say will help pay down the debt. can america afford it? to ben stein and dagen mcdowell, along with adam lashinsky and gary k, more taxes? >> jumpy, mo yummy, more taxes course not. you hand it it to washington d.c. inefficient, ineffective and every program they've ever run is bankrupt and it's the worst possible thing to do and amazing to watch they said they'd only raise taxes on the so-called privileged few, but everybody got a payroll tax hike and unfortunately, we're hearing from reid, pelosi and unemployment still at 7.9% and we have yet to feel the effects of things to come. >> dagen, i've got to tell you, one way they think you can fix the economy, taxes, taxes, taxes, it's nuts. >> we got that cbo report this past week, 7 trillion dollar in additional deficit and factor in what that 600 billion dollars in tax hikes that the democrats did already push through and how does that balance things? but the point about baltimore is interesting because that's where this nation could possibly be headed. you continue to raise taxes and you don't cut spending and you wind up on the brink of bankruptcy, exactly where that city is. >> you know, ben, you say we're all eventually going to have to pay higher taxes, but as the only item in your play book how to fix your economy it doesn't seem like it's ever going to work. >> i keep thinking if taxes are so terrible, why don't we just have no taxes at all. why don't we pay for-- >> 100% taxes. >> why don't we have no taxes at all and why don't you not interrupt me for once? >> i can't help it. >> why don't we have no taxes at all and why don't we have some some balance in the budget. and for gosh sakes, we're grownup disciplined people and we're supposed to balance the budget not supposed to be like small children. >> okay, charlie. and balance is the word that we have a lot. and taxes is the only solution that we ever get. >> i know, and why i can't help interrupting ben on this one issue. (laughter) all you have to do is look, look at the places that impose these punitive taxes baltimore, new york, california, look at their economies, it's not working. >> that's a line. >> that's a lie that new york has a structural budget deficit. >> that's not-- >> and they lead those states, businesses are leaving those days. are you saying they're flocking to california to baltimore. >> actually they are, they are. >> the time were you in baltimore-- >> what i said mass nothing to do with taxes? >> really? businesses are moving out of california because the weather is lottery. >> hold on, let's go-- adam, i do want to say, adam that charlie brought up a great point particularly in this case because this particular proposal is punitive and listen, we're going to tax all kinds of benefits from, you know, distribution of medicare benefitses, stock options benefits and we're going after something that people have earned and it is punitive. >> i'll handle it, he made a great point in your opinion, charles, you call it punitive. the technical expression is progressive. and i'm not making a value judgment. there's a difference between a progressive tax rate and an even tax rate, so a progressive tax rate, which we've had in the united states for decades, says that when -- that you tax people who are benefitting in a disproportionate way. you don't have to like it, but that's the approach. i do want to talk about baltimore for a second. we-- it is not valid to compare a city with the united states government. baltimore is a declining city. the population is down by-- >> why the decline? >> it doesn't have to be. there are many reasons. the united states is not in that position. >> why a declining city. >> hold on. >> new york a declining city in the 1970's-- and hold on a second. >> i'll give you reasons, very high taxes, very high crime, a massive welfare state that could not be sustained. that was new york in the 1970's, that's baltimore now. and that's california now. that could be new york state. >> but charlie, the observation you make about california simply isn't true, i mean, it's everything hunky-dory, no, the businesses are flocking here and-- >> no, no, gary k, i want to bring-- i'm going to bring you back into this because the bottom line is, you can sort of try to-- you can nitpick here and there, but i think that-- >> nitpick here and there. >> charlie is on to something. and-- >> picking here and there. >> you look at the highest tax rates in this country and look where the most misery is and welfare dependents are in this country and the places where the highest debt level is and have one thing in common and one solution, and taxes worked on and the city and states, boot way, illinois is in trouble, california is in trouble and city and states and municipalities and and one solution to tax people who are successful. forget about the disproporti disproportionality of it. if get up and go to work in the morning, i should make more this goes beyond balance, doesn't it? >> quite. we're arguing back ab forth, but there's a fact of life out there, called 16 trillion in debt headed towards the 20's and i have news for you, that debt was not created by you and i, it was created by them in washington d.c. because they refused to balance their books for how many years and yet, they're putting it on our backs and all i'm saying. >> hold on one second, hold on one second. all i'm saying is the more.you take out of the economy and put over there where it's unefficient and ineffective. we know that for a fact, the worst is the potential of this economy will never ever be reached and it's as simple as that. >> and california's budget is not balanced. >> and it's like-- >> and we know, all of them are smoke and mirrors, but, dagen, this whole idea that taxes are the solution, i'm shocked that anybody still believes that. >> well, there are a lot of-- i mean, a lot of people who benefit from taxes in this country. and you've got half the country virtually half the country no federal net and no net federal income tax, but to your point, adam. i think you can compare to the united states to baltimore, a city that's long been in decline although i do love baltimore, but this country, we're suffering through this period of economic malaise and enui and sitting around wondering why that is. how about the fact that as a percentage of our economy, gft spending is higher than it's been historically. we need to get it back below 20% and we're not and wondering why the economy is growing so slowly. it's going to be ten years out and we're going to be in worse shape and it's going to dawn on us, that that's the reason why, and we're living in a nation in decline. >> hold on one second. >> hey, i love you like mad, but the fastest we've had in the country is during world war ii when taxes were dramatically, fantastically higher than they are now. higher taxes are not automatically correlated with the-- >> i'm sorry, but-- >> guys, hold on one second, ben, i want to say something to that, that's brought up all the time. have you ever looked at the percentage of the population that was paying that high rate? it would be, if you adjusted for inflation, it'd be someone making 3.6 million dollars now. it's sort of an farce to say we have high tax rates in the past and it worked. at what level, ben, do you personally say ouch. okay for the government to take 60, 70, 80, 90% of what you earn. >> wait a second during world war ii even wage earners were paying taxes 30% and taxes were much higher for everyone, so, i'd say ouch right now. i mean, when i pay my taxes, it's breath taking how much i pay. but i'm afraid they have to be even higher if we're going to balance the budget and baltimore has many, many other reasons why it's declining other than taxes. there's a very high crime city, but it does have the best crab cakes in the world. >> adam i'll go to you last. and besides the crab cakes, do you think a combination of crab cakes and taxes, in world war ii, the estate taxes, obamacare taxes and americans are taxed to death and proves dagen's point. there's a malaise and we saw it in consumer confidence means, now what, taxes aren't going to do the trick. >> you know, we shout a lot, but in here, we actually are getting into real disagreements how to solve problems. at the beginning gary said every program they run shall meaning the government is bankrupt. not the f.d.a., not f.a.a., not interstate highway system. we need our government we need to figure how to make it work not to say let's do away with it. >> i keep hearing they need more money for the interstate highway. see this debt mounting, is that why the administration just got suing. tdd#: 1-800-345-2550 like no atm fees, worldwide. tdd#: 1-800-345-2550 and no nuisance fees. tdd#: 1-800-345-2550 plus deposit ches with mobile deposit. tdd#: 1-800-345-2550 and manage your cash and investments tdd#: 1-800-345-2550 with 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headquarters, i'm heather childers. first lady michelle obama is attending a fouuneral service for a 15-year-old girl, gunned down by gang related, and she walked her mother to the open casket. she was killed a few days after performing at an event during president obama's inauguration. the manhunt for an ex-cop turned triple murder suspect intensifying at this hour, more than 100 police officers standing out in california's snowy san bernardino mountains, searching for chris dorner, a former police officer and navy veteran accused of killing a couple and am burbushing an officer on thursday. now back to cavuto. >> you mess with the bull you get the horns. the justice department going off credit rating agency s & p accusing them misleading in the financial crisis. and the same agency downgradi downgrading us and sending the markets in a tailspin. and wondering why other agencies aren't charged. a little peculiar. >> and as someone who covers the financial crisis i have no sympathy for standard & poor's, these were some of the lucrative deals and complex housing bonds and vying for the bonds and they were involved in the deals and they did stupid things. and that said, i will tell you that every single ratings you see the same exact thing and basically inflated those ratings they could be put on the deal and if they go after standard & poors, they have to go after the hours and the only reason they're not. this is pay back time. >> pay back time for the downgrade, the u.s. debt. >> no. >> make the administration look bad. >> i don't buy it. they're going to start with one, start with s & p and the case go goes-- moody's the justice department is probing moody's among other regulators and looking into-- they're going to see what they can extract from s & p and if they can win in court. >> i know for a fact there have been congressionalal hearings on this. moody's had e-mails we're' talking about, will rate-- >> and in order the same sort of stuff. >> that's what i just said, that's what i just said, that moody's is-- because they're not going to go after them all at the same time if they know-- >> and why moody's first? >> and ultimately though, can this just be a scare tactic, in other words, hey, don't ever think about downgrading america's debt again or... well, look, i hope not. i hope it's not just scare tactics and frankly, i couldn't be happier, i was yelling and screaming in '08, this was fought in plain sight and the conflict of interest of rating something that you-- that the people pay you to rate is a joke. it's like if you were a father of a daughter in the miss america pageant, you are the judge so i'm glad somebody is getting in trouble and i think that moody's will probably be next and hopefully won't have to worry about this, what we're talking about here. >> here is the thing though, adam. everyone on this set. there's no sympathy for any of these guys, but the bottom line, it feels odd. the s & p, the one who actually downgraded america's debt. perhaps made the president look bad, perhaps an embarrassment, moody's major investor being warren buffett, they weren't involved, haven't been called out just yet. the smell test isn't great right now. >> well, with respect to the premise of the segment, i think it's silly to accuse the justice department of doing the treasury department's bidding. it just doesn't work that way. there's a longstanding tradition of going after number one, the market leader, and trying to set, to make an example. >> the market leaders. >> hold on. >> that's the point that he's trying to make. >> and let-- finish the point, adam. >> trying to understand it. >> you make an example of somebody with deep pockets. i've said that earlier. we don't have to like it, but that's how litigators and regulators go about their business and by the way, it is punitive m in case. >> okay, ben, again, saying you make an example. it's pretty curious and no one feels sorry for any of these guys, they put america through hell. why the timing of it? why s & p and none of their competitors? >> wiell, i'm not a fan of eric holder, i know him personally a little bit, but not a fan of him as an attorney general. and it seems extremely farfetched that they would do anything like that, take revenge, and might add to your premise, the downgrade put the market into a tailspin. didn't put it into a tailspin long. and by the way, s & p will have extremely powerful lawyers, a lot of defenses in these cases and one being that when they gave these things triple-a ratings they always said these are triple-a compared to other housing and credit interests of the same type. they didn't say compared with other interests altogether. so there are going to be a lot of defenses and a much more complex case it seems at this moment. >> at the end. day it's probably some form of a shakedown and money changing hands. thanks a lot. are you tired of working after hours? it happening and some people are worried that it could be headed in the wrong direction. the forbes gang is on the case. that's at the top of the hour. shut them up and they'll pay and one restaurant serving up hush money if the kids behave. if it creates a better experience for everyone, what's wrong with na. hey, our salads. [ bop ] [ bop ] [ bop ] you can do that all you want, i don't like v8 juice. [ male announcer ] how about v8 v-fusion. a full serving of vegetables, a full serving of fruit. but what you taste is the fruit. so even you... could've had a v8. diarrhea, gas, bloating? yes! one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. live the regular life. phillips'. >> coming up, call it hush money for your kids. one restaurant giving parents a discount if their little ones keep it down. ones keep it down. should parent be getting thyou eat less...ing weiyou lose weight.et. it's a great plan... until you get hungry. that's the time to take slimful. one tasty 90-calorie slimful and a glass of water satisfies hunger for hours making it easier to eat smaller meals, and resist snacking. your friends might think you found the secret to losing weight. but it's no secret... it's slimful. eating less is a beautiful thing. >> do you remember an incident out of denny's in december of 1996. >> yeah, i guess. ah! ah! >> wa, wa, wa! you like, huh? you like that? wa! (laughter) . >> call it cash for quiet. the washington state restaurant is making waves over a new perk for diners. handing out a discount to parents who get their kids to behave. dagen, i'm ready for you on this because i think this is a terrible idea, but you love it? >> coming from someone who's father would not take her out to eat in a public restaurant until i was old enough to actually drive the both of us, next to parents not bringing their screaming kids into the restaurants, i think this is genius, kudos to the restaurant. >> charlie, where are you on this? >> i grew up in an era where if you opened your mouth you got-- >> backhanded. >> you didn't get the backhand of nothing, clearly. [applause]. you know what, adam, i will say this, i would like to-- i would really like to put the rule in new york where the wall street guys are out. >> bragging about their money. >> and their cell phones. >> and adam, the comeback line of them all, but how do you feel on this particular topic? >> parents need to be parents. >> this cuts very close to home. i think i'm the only one on the program with a child the age where this is relevant. if i had an economic incentive to get my daughter to behave herself in the restaurant i think i would be happy about it. i haven't seen it in any restaurants that we've been to. >> i guess that's it, ben, have we come that far that parents need an economic incentive to have their kids behave in public? >> you know, i don't care about that. i just think that adam should get for what he said, i've been doing the show a number of years and the best thing i've heard of yet. >> and there are people across the network that are growing with you. >> and gary k, what's your opinion on it. i think if the restaurant wants to do that terrific, if they want to give my kid something terrific. my kids behave themselves never got a thing, i'm okay with it. >> they do it in new york i'll come in with kids that aren't mine and have them screaming all night long. i can make a lot of money on it. guys, fantastic. special thanks to charlie and dagen. (laughter) >> i love adam. and draw back your-- hit us with stocks and forget about chocolates for your valentine's, our gang has the sweethearts to fall in love with. >> ♪ cupid draw back your bow and let your arrow go ♪ a big deal, our first full team gathering! i wanted to call on a few people. ashley, ashley marshall... here. since we're often all on the move, ashley suggested we use fedex office to hold packages for us. great job. [ applause ] thank you. and on a protocol note, i'd like to talk to tim hill about his tendency to use all caps in emails. [ shouting ] oh i'm sorry guys. ah sometimes the caps lock gets stuck on my keyboard. hey do you wanna get a drink later? [ male announcer ] hold packages at any fedex office location. progress-oh! [ female announcer ] with 40 delicious progresso soups at 100 calories or less, there are plenty of reasons people are saying "progress-oh!" share your progress-oh! story on facebook. ... ...
FOX News
Feb 9, 2013 2:30pm EST
the bull you get the horns. the justice department going off credit rating agency s & p accusing them misleading in the financial crisis. and the same agency downgradi downgrading us and sending the markets in a tailspin. and wondering why other agencies aren't charged. a little peculiar. >> and as someone who covers the financial crisis i have no sympathy for standard & poor's, these were some of the lucrative deals and complex housing bonds and vying for the bonds and they were involved in the deals and they did stupid things. and that said, i will tell you that every single ratings you see the same exact thing and basically inflated those ratings they could be put on the deal and if they go after standard & poors, they have to go after the hours and the only reason they're not. this is pay back time. >> pay back time for the downgrade, the u.s. debt. >> no. >> make the administration look bad. >> i don't buy it. they're going to start with one, start with s & p and the case go goes-- moody's the justice department is probing moody's among other regulators and looking into-- th
WHUT
Feb 5, 2013 6:00pm EST
-- does not make such individuals immune from being targeted. >> in a secret justice department paper, the obama administration claims it has legal authority to assassinate u.s. citizens overseas even if there is no intelligence indicating they are engaged in an active plot to attack the u.s. we will speak with jameel jaffer from the aclu. the obama administration is claiming the legal authority to indefinitely detain americans without charge or trial. >> the way in which our fundamental rights, our bill of rights, our constitution freedoms have been abridged by the last 10 years and more as president obama is unhappily following in that tradition. >> we will speak with whistleblower daniel ellsberg who is in new york this week to attend an appeal in his lawsuit against the ndaa. we will speak with computer security researcher jacob appelbaum who lost a federal appeals court ruling that the government could subpoena his twitter and e-mail information without a warrant as part of its probe into wikileaks. the boy scouts of america prepared to vote on whether to lift its ban on gay memb
CBS
Feb 6, 2013 5:00am EST
increase works out to be an extra $500 a year. adds up quick. >>> the justice department is getting into a battle over beer. there are at least 2,000 local breweries around the country like port city in alexandria. they worry about one beer giant getting bigger and dominating the entire market. anheuser-busch already control abouts half of u.s. beer markets and now it wants to merge with corona which is the most popular imported beer. local brewers worry such a deal to coarse their products out of stores. >> there's a limited amount of shelf space out there. the big suppliers have influence over what goes into the set. if one supplier gets too big, then they ultimately can have the opportunity to limit that choice in the market. that's bad for consumers and it's interesting that the justice department agrees with that view. >> craft beer market has been gaining in popularity. the growing industry represents only 6% of the market at this point, but sales of large domestic beers, as they decline, craft beers are up 11%. as i said there were 2,000 local breweries across the country. it
KICU
Feb 1, 2013 4:00am PST
spot. why the justice department is trying to break up a merger between beer companies. and, could google profit from gangnam? our traders search for the answers. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's friday, february 1st. i'm angela miles. in today's first look: january jobs. traders will key their trading off the latest news on the labor market from the goverment today. it's expected 195,000 jobs were added, and the unemployment rate will tick down to 7.7%. january joy: the first month of the year was a good one for the stock market. the dow's top performers gained nearly 6%, and among the commodities oil had its best start of a new year since 2006, which pumped up prices at the gas station. the average cost of gallon of unleaded jumped 13 cents this month. and in legal action, peregrine ceo russell wasendorf will get 50 years in prison - the max - for cheating investors out of $215 million. todd horwitz of the adam mesh group joins us now. he has a closer look at the jobs trade. what
FOX Business
Feb 5, 2013 9:00pm EST
results tonight. -- of do all over washington again in the justice department goes to court saying they were not to blame for the financial crisis so why is it paid back by the white house? next. ♪ gerri: in a world of banking and finance the rating agency's opinion is the last advice the big money puts down the many. the justice department slapped the biggest agency standard and poor's with the $1 billion lawsuit it.is shoddy job to rate the mortgage bonds that exploded. in its defense will argue because of first amendment rights. i don't know who i am more surprised than just a part -- justice department or s&p? eric holder, five years later you suddenly find them asleep at the wheel? what about the home buyers who took on mortgages they couldn't afford, the banks, the investors to pick up every investment they to put their hands on. other rating agencies could have stopped the bare ground was obvious that the investments were junk. but the agency did not do that. but different from the banks the job is to rate investments, their readiness but it they did not stick their neck out th
CNBC
Feb 8, 2013 4:00pm EST
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CNBC
Feb 18, 2013 12:00am EST
concierge level. >> birkenfeld claims his motives in going to the justice department were mostly altruistic. he offered to wear a wire to gather evidence against high-level ubs executives in exchange for full immunity for his transgressions, but the negotiations broke down. and birkenfeld neglected to tell them about his dealings with this man, california real estate developer igor olenicoff, who was his biggest client. birkenfeld helped olenicoff hide $200 million by introducing him to a consultant who specialized in creating shell companies and sham entities that concealed the ownership of the ubs accounts. >> i don't sign people's tax return, so what they do with their taxes is not my business. i'm a banker. >> so you would steer them to somebody who would help them hide their money? >> i would them to these service providers. >> that's correct. >> you must have known deep down that it was illegal. >> when you came into the u.s. you felt uncomfortable. that's correct. >> but as a gesture of good will, birkenfeld did give the justice department, senate investigators, irs agents
MSNBC
Feb 5, 2013 6:00am PST
"the daily rundown." >>> confidential killing. an nbc news exclusive. a justice department memo says the government can kill americans believed to be top al qaeda leaders, even if there's no active plot to attack the united states. this controversial document also has new details on the legal justification behind more drone strikes against al qaeda subjects. >>> red rover, karl rove's new push to score some winners is getting pushback from powerful conservative groups. this morning, a debate between one of rove's point men and one of his top critics. >>> and who do you know? and do you know who this guy is? you should. he just might be the most powerful person in israeli politics not named netanyahu right now. find out what an unexpected power surge from the center could mean for u.s. hopes for mideast peace. >>> good morning from washington. it's tuesday, february 5th, 2013. this is "the daily rundown." i'm chuck todd. let's get to my first reads. president obama's state of the union address is just a week from today and the president is flooding the zone. worried the federal budget
CNBC
Feb 17, 2013 9:00pm EST
the door of the u.s. justice department in the spring of 2007, he touched off an investigation that would threaten one of the world's largest banks with extinction and shake 300 years of swiss banking secrecy to the foundations of its underground vaults. he did it by providing inside information and documentation that his former employer, banking giant ubs, was actively involved in helping its american clients defraud the u.s. treasury out of billions of dollars in unpaid taxes. >> what do you think was most valuable thing that you gave to the u.s. government? >> the amount of clients and the amount of assets managed by ubs in the united states out of switzerland. >> and that was how much? >> that was 19,000 clients and around 20 billion swiss francs, which is about $19 billion. >> of the percentage of american accounts that you represented, how many would you say were trying to evade taxes? >> my own clients? >> mm-hmm. >> i would say about 90%. >> did people tell you this was their intention when they opened an account? >> it was the unwritten rule. you didn't have to discuss it.
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